Time Warner Inc. (NYSE:TWX) Position Cut by Parsons Capital Management Inc. RI
Parsons Capital Management Inc. RI cut its stake in shares of Time Warner Inc. (NYSE:TWX) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,848 shares of the media conglomerate’s stock after selling 266 shares during the period. Parsons Capital Management Inc. RI’s holdings in Time Warner were worth $1,451,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock valued at $4,761,042,000 after buying an additional 1,740,936 shares during the last quarter. BlackRock Inc. boosted its position in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock valued at $4,184,660,000 after buying an additional 40,940,053 shares during the last quarter. State Street Corp boosted its position in shares of Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock valued at $3,199,990,000 after buying an additional 688,860 shares during the last quarter. FMR LLC boosted its position in shares of Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock valued at $1,165,905,000 after buying an additional 68,625 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock valued at $710,380,000 after buying an additional 556,674 shares during the last quarter. 80.02% of the stock is owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE:TWX) traded down 0.21% during trading on Thursday, reaching $102.07. 791,462 shares of the company were exchanged. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34. The stock has a market capitalization of $79.39 billion, a price-to-earnings ratio of 18.94 and a beta of 1.05. The firm’s 50 day moving average price is $100.71 and its 200-day moving average price is $98.80.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Time Warner Inc. will post $6.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.
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Several brokerages recently commented on TWX. BMO Capital Markets restated a “hold” rating and set a $108.00 target price on shares of Time Warner in a report on Monday, April 17th. Royal Bank Of Canada set a $108.00 target price on shares of Time Warner and gave the stock a “hold” rating in a report on Monday, June 12th. MKM Partners restated a “neutral” rating and set a $107.50 target price (up previously from $90.00) on shares of Time Warner in a report on Monday, May 1st. Jefferies Group LLC cut shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Thursday, August 3rd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $105.00 target price on shares of Time Warner in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.25.
In other news, CFO Howard M. Averill acquired 255 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.
Time Warner Company Profile
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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